A Paradox? probably yes.
Just had a look at the Google video by
The Paradox of Choice
by Barry Schwartz
Where he talks about the dark side of having more choices..
Paralysis: The choice make becomes overwhelmed by the deluge of choices in front of him. Thus, he either postpones his decision or does not make any decision!
Different types of choice making strategies:
Maximiser: These people look at all the options and make the decisions.. but these people are more unhappy [According to the speaker].. I feel that this is true in practice too!
Satisfisor: These people keep on trying the alternatives till they get the alternative by which they are satisfied. Their choice may not be optimal... {because they have not looked at all the options].. But in practice they are more happy than Maximisers!
Principal-Agent Problem:
In this case, the agent does all the work of choosing.. thus insulating the stake holder from the pain of making decisions.. The agent does not need to be a guru... if he has some knowledge of the products, he can come up with good choice for the stake holder. Both are profited.. both are happy..
The Speaker also said that Google was the part of the solution of this "choices" problem.
Monday, January 15, 2007
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